India based Tata Consultancy Services (TCS) announced a partnership with Volt to power the neobank’s next-generation Banking as a Service (BaaS) platform.
Set to launch in 2021, Volt 2.0 will leverage TCS BaNCS™, a global payments solution, to expand the bank’s offerings.
The new generation offers include NPP, BPAY and DE, enabling full-service banking capabilities for all its customers.
“Volt will work closely with TCS to incorporate the real-time capabilities of TCS BaNCS for payments, along with API-based access to open banking components that are not dependent on traditional legacy structures.”
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The end-to-end solution provides full back-end support, the flexibility to integrate leading technologies, and connect with an extended ecosystem to offer innovative new products and services.
“Volt’s unique platform technology places it at the forefront of Australian banks, and positions us well for incredible growth into the future,” said Steve Weston, Founder and CEO, Volt.
“In this digital age, consumer expectations have soared, yet many banks are held back from innovation by lack of speed from legacy systems,” said Vikram Singh, Country Head, TCS Australia and New Zealand.
